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South Korea Approves $350 Billion Investment in the US

Published March 12, 2026, 12:11
South Korea Approves $350 Billion Investment in the US

The South Korean parliament has approved a $350 billion investment plan in the US, as part of a trade agreement reached last year. The approval comes as the US has launched new investigations into unfair trade practices, including those of South Korea. The agreement provides for a reduction in tariffs on South Korean exports in exchange for the investment. Under the agreement, South Korea pledged to invest $350 billion in the US, with $150 billion allocated to cooperation in the shipbuilding sector and the remainder in strategic sectors such as semiconductors. The bill was approved with the support of the ruling party and the opposition. The approval of the bill was necessary after threats from the US to reinstate tariffs at 25%, as it was considered that South Korea was not respecting the agreement. The approval of the bill lays the institutional and legal foundations for the implementation of the agreement on customs duties between the two countries. The vote comes after a series of investigations launched by the US into potential economic damage, with South Korea among the countries under investigation. Although the US Supreme Court overturned previous tariffs, the US president reimposed a 10% tariff on certain products.